Will Satyam Layoffs happen in June 2009?

The speculations about Satyam Computer layoff is not going to die soon. It is clear that the company is in bad condition despite the fact that it is now under new management and new owner- Tech Mahindra Ltd. In Bloomberg, I could find this report: Satyam Computer Considers Eliminating 8,000 Jobs. Well, it may or may not happen in June but it is clear some workers will lose jobs in the company in the next few weeks. One of the main reasons behind this kind of layoff is that Satyam is losing some very big clients in Europe and America. It seems that there is lack of confidence among clients because of the recent scandals that sent the owner of the company to prison.

I wish that the new owner took the company more seriously. After all, the fate of many workers is related to it. Secondly, many people have bought shares of the company. The shares of Satyam have lost value significantly in the last 5 months. If these layoffs take place then you can be sure that the shares will go down even further.

(This entry was first posted in this blog a few days ago. However, for technical problems, it got deleted and I am reposting it today).